Intact Investment Management Inc. Takes $3.15 Million Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Intact Investment Management Inc. purchased a new position in MAG Silver Corp. (NYSEAMERICAN:MAG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 269,800 shares of the company’s stock, valued at approximately $3,151,000. Intact Investment Management Inc. owned 0.26% of MAG Silver at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI increased its stake in MAG Silver by 5.9% in the 4th quarter. National Bank of Canada FI now owns 240,600 shares of the company’s stock worth $2,477,000 after acquiring an additional 13,348 shares during the last quarter. Private Advisor Group LLC raised its position in MAG Silver by 6.1% during the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after purchasing an additional 1,447 shares during the period. Monaco Asset Management SAM purchased a new position in shares of MAG Silver in the 4th quarter worth approximately $2,615,000. Jump Financial LLC purchased a new stake in MAG Silver during the 4th quarter valued at $460,000. Finally, First Eagle Investment Management LLC boosted its stake in MAG Silver by 11.2% during the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after buying an additional 642,494 shares during the period. 52.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. HC Wainwright lifted their target price on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Ventum Cap Mkts cut shares of MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Finally, Scotiabank lifted their price target on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.38.

MAG Silver Trading Down 1.4 %

Shares of NYSEAMERICAN:MAG traded down $0.19 during midday trading on Friday, hitting $13.04. The company’s stock had a trading volume of 383,362 shares, compared to its average volume of 731,171. The company has a market cap of $1.34 billion, a P/E ratio of 23.29 and a beta of 1.12. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. On average, analysts expect that MAG Silver Corp. will post 0.65 earnings per share for the current year.

MAG Silver Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.